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Two of his interesting contribution were his Arrow-Pratt measure of risk aversion, which is invariant to affine transformations (so consistent with revealed pre
by oli5679 10y ago
Two of his interesting contribution were his Arrow-Pratt measure of risk aversion, which is invariant to affine transformations (so consistent with revealed preference) and his Arrow-Debreu general equilibrium proof. Both are quite intuitive:
https://www.google.co.uk/url?sa=t&source=web&rct=j&url=http://public.econ.duke.edu/~rek8/econ604/lecturenotes/topic2notesparttwo.pdf&ved=0ahUKEwjuxNylqaPSAhXID8AKHToQCFIQFgg1MAI&usg=AFQjCNEzeiLw4Jt9C5gYimbpGR_s-M5RZg&sig2=vSej8BiN2OjTXt4SbpSPQA https://www.google.co.uk/url?sa=t&source=web&rct=j&url=http:...
https://www.google.co.uk/url?sa=t&source=web&rct=j&url=http://wwwf.imperial.ac.uk/~mdavis/docs/ArrowDebreuPrices.pdf&ved=0ahUKEwiNx57xqaPSAhXMDcAKHcX6BmUQFghYMAY&usg=AFQjCNGAnRtVKRk2wtJyd6kxkvi6lJknvQ&sig2=ZvF5qLcUgnJn9s1KzygWjg https://www.google.co.uk/url?sa=t&source=web&rct=j&url=http:...